Professor Lambert provides a very useful synthesis of the major issues in managerial accounting and the insights that agency theory has provided on those issues. In this discussion, I highlight some of the limitations of these models in examining accounting measurement questions. Lambert calls...

During the spring of 2000, the market values of internet companies declined 61% in 10 weeks. Using a sample of internet direct and support (infrastructure) firms, this paper investigates whether the stock market decline could be attributed to new disclosures over the period (buy/sell...

During spring 2000, the Internet Stock Index declined 45%. Using a sample of internet firms, this paper investigates whether this decline was associated with new disclosures, such as earnings, analyst forecast revisions, and web-traffic measures, or to a quot;reassessmentquot; by investors of...